Former Chair of the Fed, Paul Volker, was recently seen on Charlie Rose. Here's an excerpt put together by Greg Ip at the Wall Street Journal. It sounds like while the Fed had no choice in the matter -- to stave off financial collapse -- Volker believes that the federal government ought to have played the principal role.
If anybody has the video, please let me know and I'll share it here. I'll go looking on Voxant in a while. Maybe it's there...or PBS.
Economics Blog : Volcker: Fed's 'Extreme' Intervention 'Raises Some Real Questions'
More background on Volker
How Paul Volcker became a practical monetarist
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Posted by billspaced | 11:40 AM | 0 comments »